CHIF to Launch E-Commerce Site
NEW YORK, May 20 /PRNewswire/ -- China Food and Beverage Company (OTC Bulletin Board: CHIF) announced today that it will launch an E-Commerce web site featuring its beer brewed at its facility in China. Among the beer products that will be available via the Internet will be CHIF's award winning Hao Dun Brand. Initially, the Company's beverage products may be purchased in both the United States and China at its E-Commerce site. The web site will be in both the English and Chinese languages.
James Tilton, president of CHIF stated, "We are extremely pleased at the opportunity to distribute our beverage products over the Internet. Currently, the United States and China are number one and two, respectively, in both the production and consumption of beer worldwide. We believe our Hao Dun Brand, which competes successfully with the world famous Tsingtao Beer in China, will be able to do the same in America, where Tsingtao is also hugely successful. At present, consumers are primarily only able to purchase beer products on the Internet from on-line grocery stores. To the best of our knowledge, the CHIF E-Commerce site will be the only Internet site where consumers can purchase beer products directly on-line from the brewer. In addition, we feel that beer and beverage products, due to their bulk and packaging are ideal products to be purchased on-line and delivered directly to the home or office.
China Food and Beverage Co. reported revenues of $15.9 million and a pre-tax earnings of $2.9 million for the year ended December 31, 1998.
China Food and Beverage Co. is a U.S. holding company whose strategy is the acquisition of regional Chinese breweries that complement its existing business, distribution and product lines.
For further information on China Food and Beverage Co., contact Investor Relations at 800-641-5844 or visit the company's web site, chif.net
This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, which are intended to be covered by the safe harbors created thereby. Investors are cautioned that all forward-looking statements involve risks and uncertainties, including, without limitation, the ability of China Food and Beverage Co. to accomplish its stated plan of business. Although China Food and Beverage Co. believes that the assumptions underlying the forward-looking statements contained herein are reasonable, any of the assumptions could be inaccurate and, therefore, there can be no assurance that the forward-looking statements included in this press release will prove to be accurate. In light of the significant uncertainties inherent in the forward-looking statements included herein, the inclusion of such information should not be regarded as a representation by China Food and Beverage Co. or any other person that the objectives and plans of China Food and Beverage Co. will be achieved.
SOURCE China Food and Beverage Company
CO: China Food and Beverage Company
T A P has received 5K shares of restricted stock of CHIF from the company for services provided for a period of 1 year. For a complete write-up on CHIF and other Turn Around Picks and to join free, go to T A P profile for url.
|
